Immune Pharmaceuticals Inc (fka IMNPQ)

[Letterpenny]

After consideration of the comments and the Commission's experience in the area of roll-up transactions, the proposed
amendments are being adopted substantially as proposed. Although not required by the Act, and as outlined more completely below,
the Commission today adopts a definition of roll-up transaction for disclosure and certain other requirements governing roll-ups

-[18]- The legislation generally defines the term as a transaction involving the combination or reorganization of one or more limited partnerships, directly or
indirectly, in which some or all the investors receive new securities or securities in another entity. A roll-up may be structured as an acquisition, a merger,
a tender (exchange) offer or in some other fashion.

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